Millennials trust Bitcoin more than Fiat!

[Possum577]

http://www.coindesk.com/nyse-chairman-millennials-trust-bitcoin-more-than-fiat/

No shit and can you blame them? Millennials have seen lives get destroyed and fear run through towns based on corruption that's happened using fiat. Why wouldn't they trust bitcoin?

The problem is that all the that's happened to cause fear in the economy - weak markets, mortgage-backed collateralized debt obligations, "clever" accounting with Enron, minimum wage struggles, student loan debt - could have been facilitated with ANY currency. I guess the one thing that's done with fiat that's not done with bitcoin is the government-driven creation of currency, which then devalues the currency OR the quantitative easing.

I hope some of the greed of speculation doesn't ruin bitcoin for us. I hope governments never have a hand in it's creation or value.

From the article:
Intercontinental Exchange (ICE) CEO and New York Stock Exchange (NYSE) chairman Jeffrey Sprecher has come out in support of bitcoin and the blockchain, voicing his belief that the technologies are part of a larger change in how trust is being established in society.

Speaking to CNBC's Bob Pisano on "Power Lunch", Sprecher opened up about NYSE's investment in bitcoin services provider Coinbase's recent $75m Series C funding round, one of the largest so far closed by an industry firm.

Sprecher suggested NYSE has been looking into bitcoin and the blockchain for "over a year", but noted the exchange has found the language of the industry difficult to navigate.

However, Sprecher said his interest had persisted due to the fact that millennials are becoming comfortable using the technology in the same way that they are becoming used to other platforms – such as ride-sharing app Uber – where the crowd, rather than a central authority, informs decision-making.

Sprecher told CNBC:

"We're seeing millennials trust a currency that is created in the ether, more than they trust fiat currency by government. I think that trend, whether it's a restaurant review or a taxicab or the way you exchange value, is something they believe in and we want to be on top of it because I think it's going to impact you and I."

"I think there's something to it," he said, alluding to bitcoin and the blockchain. "I think there's something here, that's why we invested in it."

[OROBTC]

...

Possum577

The Millennials have indeed had a hard run since 2008, so I can understand that.  They do understand a Raw Deal and corruption.

But neither our daughter nor her husband (recently married) have even glanced at Bitcoin.  Yet they love Uber and other apps and tech...


Grumpy old guys like me trust gold even more than $ or BTC...

[AtheistAKASaneBrain]

I have never meet a millennial (millenial is born in 2000+ I guess?) that is into Bitcoin, not in a forum or not in real life. I think the next generations will grow up with an already perfected and mainstream Bitcoin and it will be second nature for them.

[ThEmporium]

I have never meet a millennial (millenial is born in 2000+ I guess?) that is into Bitcoin, not in a forum or not in real life. I think the next generations will grow up with an already perfected and mainstream Bitcoin and it will be second nature for them.

In 2015, the number of merchants accepting bitcoin exceeded 100,000. As of December 2014 established firms that accept payments in bitcoin include Atomic Mall, Clearly Canadian, Dell, Dish Network, Dynamite Entertainment, Expedia, Microsoft, Newegg, PrivateFly, Overstock.com, the Sacramento Kings, TigerDirect, Time Inc., Virgin Galactic, and Zynga. Due to the fact that chargebacks are impossible, retailers usually offer in-store credit as the only option when returning items purchased with bitcoins.

[Bitdonator]

I have never meet a millennial (millenial is born in 2000+ I guess?) that is into Bitcoin, not in a forum or not in real life. I think the next generations will grow up with an already perfected and mainstream Bitcoin and it will be second nature for them.

There are no precise dates when the generation starts and ends.
 Researchers and commentators use birth years ranging from the early 1980s to the early 2000s.

[pereira4]

I have never meet a millennial (millenial is born in 2000+ I guess?) that is into Bitcoin, not in a forum or not in real life. I think the next generations will grow up with an already perfected and mainstream Bitcoin and it will be second nature for them.

There are no precise dates when the generation starts and ends.
 Researchers and commentators use birth years ranging from the early 1980s to the early 2000s.

A generation starts when you can't talk about what you are into to your parents.
So basically, I think people being born right now, in 2015, will be the first ones that naturally grow up in a Bitcoin ecosystem and it doesn't feel as some alien money concept.

[ayesha201006]

Of course they trust it more.  You can't just print billions of bitcoins to pay off debt.  The millennial got the shaft.  Crappy job market, insane housing costs, and an absurdly overpriced college system.  Best of luck to them I guess.  But what really gets me is when older people call them lazy.  These people grew up with a good job market (you could support a whole family on a single income, imagine that!), reasonable  priced housing, and didn't even need a degree to get a good job.

[JayCoDon]

I think it has less to do with the understanding of printing billions or not and more to do with how our minds work. Everything is digital to us. Therefore, something like bitcoin, which only takes a little while to transfer, makes sense.

[futureofbitcoin]

No they don't. The vast majority don't, anyway.

[Possum577]

...

Possum577

The Millennials have indeed had a hard run since 2008, so I can understand that.  They do understand a Raw Deal and corruption.

But neither our daughter nor her husband (recently married) have even glanced at Bitcoin.  Yet they love Uber and other apps and tech...


Grumpy old guys like me trust gold even more than $ or BTC...

Interesting point. Do you use Uber other apps and tech? Do you have an interest to? It's possible that your kids interest or willingness to use such new business models and channels may prove their propensity to be interested in the bitcoin project, perhaps they just haven't been introduced to it yet.

I love Uber, I use it multiple times weekly. I do know a lot of people (young and old) that don't know about bitcoin, don't care to know, or just don't understand it. I guess I don't see the young adopting it and the old rejecting it. But, I do see you people more apt to check out new ideas in techonology, a bit more readily than older people I know. Just one person's perspective of course, so hardly something to call fact!

[Possum577]

I have never meet a millennial (millenial is born in 2000+ I guess?) that is into Bitcoin, not in a forum or not in real life. I think the next generations will grow up with an already perfected and mainstream Bitcoin and it will be second nature for them.

The Millennial Generation are people born from early 1980's to the early 2000's...so ~15-34 years old.

http://en.wikipedia.org/wiki/Millennials

You probably HAVE met one or two!

[Amph]

No they don't. The vast majority don't, anyway.

the vast majority are banks, banks are known to not trust it, but it's different, because they have much to lose, notice how some that want to embrance bitcoin it's because they had a bad run with fiat

so i think everyone is just covering his portfolio, they don't really believe in the future of new tech like bitcoin

[aso118]

This is definitely a blanket statement. Bitcoin awareness/usage is still low in all sections of society, millennials or otherwise.
If Bitcoin becomes popular with the younger generation, then the demise of fiat will be hastened. 

[lissandra]

I wouldnt say they trust more, but they now are more aware of things since 2008 like everyone should be.

And they know theres an option now to protect your money in some sense.

[rayhan]

http://www.coindesk.com/nyse-chairman-millennials-trust-bitcoin-more-than-fiat/

No shit and can you blame them? Millennials have seen lives get destroyed and fear run through towns based on corruption that's happened using fiat. Why wouldn't they trust bitcoin?

The problem is that all the that's happened to cause fear in the economy - weak markets, mortgage-backed collateralized debt obligations, "clever" accounting with Enron, minimum wage struggles, student loan debt - could have been facilitated with ANY currency. I guess the one thing that's done with fiat that's not done with bitcoin is the government-driven creation of currency, which then devalues the currency OR the quantitative easing.

I hope some of the greed of speculation doesn't ruin bitcoin for us. I hope governments never have a hand in it's creation or value.

From the article:
Intercontinental Exchange (ICE) CEO and New York Stock Exchange (NYSE) chairman Jeffrey Sprecher has come out in support of bitcoin and the blockchain, voicing his belief that the technologies are part of a larger change in how trust is being established in society.

Speaking to CNBC's Bob Pisano on "Power Lunch", Sprecher opened up about NYSE's investment in bitcoin services provider Coinbase's recent $75m Series C funding round, one of the largest so far closed by an industry firm.

Sprecher suggested NYSE has been looking into bitcoin and the blockchain for "over a year", but noted the exchange has found the language of the industry difficult to navigate.

However, Sprecher said his interest had persisted due to the fact that millennials are becoming comfortable using the technology in the same way that they are becoming used to other platforms – such as ride-sharing app Uber – where the crowd, rather than a central authority, informs decision-making.

Sprecher told CNBC:

"We're seeing millennials trust a currency that is created in the ether, more than they trust fiat currency by government. I think that trend, whether it's a restaurant review or a taxicab or the way you exchange value, is something they believe in and we want to be on top of it because I think it's going to impact you and I."

"I think there's something to it," he said, alluding to bitcoin and the blockchain. "I think there's something here, that's why we invested in it."

thats how the future is heading, i believe the current generation and upcoming generation will want to be bound less by the shackles of governmaent and thier bureaucracy and will be accepting bitcoin in a more faster pace, this will be great for bitcpoin as it will increase the value of bitcoin, just waiting to see if Satoshi's vision of value will reach trillions of dollars for bitcoin. only hope it will happen within my lifespan

[manselr]

http://www.coindesk.com/nyse-chairman-millennials-trust-bitcoin-more-than-fiat/

No shit and can you blame them? Millennials have seen lives get destroyed and fear run through towns based on corruption that's happened using fiat. Why wouldn't they trust bitcoin?

The problem is that all the that's happened to cause fear in the economy - weak markets, mortgage-backed collateralized debt obligations, "clever" accounting with Enron, minimum wage struggles, student loan debt - could have been facilitated with ANY currency. I guess the one thing that's done with fiat that's not done with bitcoin is the government-driven creation of currency, which then devalues the currency OR the quantitative easing.

I hope some of the greed of speculation doesn't ruin bitcoin for us. I hope governments never have a hand in it's creation or value.

From the article:
Intercontinental Exchange (ICE) CEO and New York Stock Exchange (NYSE) chairman Jeffrey Sprecher has come out in support of bitcoin and the blockchain, voicing his belief that the technologies are part of a larger change in how trust is being established in society.

Speaking to CNBC's Bob Pisano on "Power Lunch", Sprecher opened up about NYSE's investment in bitcoin services provider Coinbase's recent $75m Series C funding round, one of the largest so far closed by an industry firm.

Sprecher suggested NYSE has been looking into bitcoin and the blockchain for "over a year", but noted the exchange has found the language of the industry difficult to navigate.

However, Sprecher said his interest had persisted due to the fact that millennials are becoming comfortable using the technology in the same way that they are becoming used to other platforms – such as ride-sharing app Uber – where the crowd, rather than a central authority, informs decision-making.

Sprecher told CNBC:

"We're seeing millennials trust a currency that is created in the ether, more than they trust fiat currency by government. I think that trend, whether it's a restaurant review or a taxicab or the way you exchange value, is something they believe in and we want to be on top of it because I think it's going to impact you and I."

"I think there's something to it," he said, alluding to bitcoin and the blockchain. "I think there's something here, that's why we invested in it."

thats how the future is heading, i believe the current generation and upcoming generation will want to be bound less by the shackles of governmaent and thier bureaucracy and will be accepting bitcoin in a more faster pace, this will be great for bitcpoin as it will increase the value of bitcoin, just waiting to see if Satoshi's vision of value will reach trillions of dollars for bitcoin. only hope it will happen within my lifespan

Bitcoin will be huge in advertisement based payments. I know a lot of those millenials making money off Youtube videos and they absolutely hate being tied to Google, which may or not kick them out of Adsense. And if you want to scape Adsense, you are again traped inside the rules of a Network. If they could get the money directly thought Bitcoin the shift would be huge.

[mrhelpful]

This is definitely a blanket statement. Bitcoin awareness/usage is still low in all sections of society, millennials or otherwise.
If Bitcoin becomes popular with the younger generation, then the demise of fiat will be hastened. 

Unfortunately, most people are and the young generation barely hears about bitcoin.

Yeah, you`ll get a few kids hyped up about it. But, when I go into twitch which has more of the younger generations, most people havent heard about it at all which is sad to hear.

[gentlemand]

I would've thought the average millennial is probably too busy sucking their cheeks in for selfies than considering the future of finance. Never met one yet who knew anything about BTC or seemed to give much of a shit about how the world of finance actually works.

[OROBTC]

...

gentlemand

I would not be as harsh on the Millennials, but, I do not know any who are fans of Bitcoin either.  But, in my case, I am 59.  Our daughter and her husband know ZIP about BTC and do not care.

Same comment re finance, but, again, my experience with Millennials is rather minimal.

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Possum57

I do not use Uber, I take taxis fairly rarely.  Most of them would be to/from airports or in Peru...  

I do use various forms of technology (databases, BTC, 'Net trolling), but not many apps, selfies, etc.  59 and everything...

[victoryboy]

This good and positive sign that everyday more and more bankers and traditional traders are leaving fiat currency and joining bitcoin and blockchain technology.Bitcoin is to stay and rule the next financial system of world.